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The budget division of the Union finance ministry issued the Budget circular for the 2016 fiscal on Friday.

The circular marks the formal start for the budget making process which will culminate in the speech by the finance minister in February or March.

The circular lays down the guidelines to be followed by all government ministries and departments across the country, including the timelines, and the necessary documents. The estimates on tax and non-tax revenue, plan and non-plan spending and capital expenditures, will be presented in the budget